Zacks Research Downgrades Simmons First National (NASDAQ:SFNC) to Hold

Simmons First National (NASDAQ:SFNC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

SFNC has been the topic of several other research reports. Morgan Stanley raised their price objective on Simmons First National from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Wall Street Zen raised Simmons First National from a “sell” rating to a “hold” rating in a research report on Monday, January 26th. National Bank Financial set a $21.00 price objective on Simmons First National in a report on Wednesday, January 21st. Raymond James Financial upgraded shares of Simmons First National from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Simmons First National in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.43.

Simmons First National Price Performance

SFNC stock opened at $18.96 on Thursday. The business has a 50 day moving average price of $20.20 and a 200 day moving average price of $19.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -6.84 and a beta of 0.91. Simmons First National has a fifty-two week low of $17.00 and a fifty-two week high of $22.17.

Simmons First National (NASDAQ:SFNC) last announced its quarterly earnings results on Tuesday, January 20th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. The company had revenue of $249.00 million for the quarter, compared to analyst estimates of $238.68 million. Simmons First National had a negative net margin of 27.83% and a positive return on equity of 6.73%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that Simmons First National will post 1.66 earnings per share for the current fiscal year.

Simmons First National declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 17th that authorizes the company to repurchase $175.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Simmons First National

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its position in Simmons First National by 35.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,884 shares of the bank’s stock worth $36,000 after buying an additional 495 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Simmons First National by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 19,079 shares of the bank’s stock worth $360,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Simmons First National by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,075 shares of the bank’s stock worth $623,000 after purchasing an additional 500 shares in the last quarter. Natixis Advisors LLC lifted its position in Simmons First National by 2.5% in the fourth quarter. Natixis Advisors LLC now owns 21,065 shares of the bank’s stock valued at $397,000 after purchasing an additional 513 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Simmons First National by 32.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the bank’s stock valued at $50,000 after purchasing an additional 644 shares in the last quarter. 27.58% of the stock is owned by institutional investors and hedge funds.

About Simmons First National

Simmons First National Corporation (NASDAQ:SFNC) is a bank holding company headquartered in Pine Bluff, Arkansas. Through its primary operating subsidiary, Simmons Bank, the company maintains a network of more than 200 branches across Arkansas, Tennessee, Missouri, Mississippi, Texas, Oklahoma and North Carolina. Simmons First National offers a full suite of financial services to individuals, small businesses and commercial clients, emphasizing relationship-driven community banking.

The company’s core business activities span deposit-taking, lending and payment services.